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FOX Business
Nov 29, 2012 10:00pm EST
characterize the conversation is direct and straightforward. whilnoting that all eyes in the fiscal cliff spinoff are now turn on the white house. to take all of this up tonight, the politics and policy in the games being played by both sides in washington dc, we will be joined by richard shelby, the ranking republican of the banking committee. he joins us. congressman devin nunes, chairman of the ways and means committee to tell us what kind of effor it will take and who will be blamed for failure to stop these tax hikes and trillion dollar budget cuts. bradley graham is among our guests tonight. here are the details on exctly what secretary geithner has proposed on behalf of the presidento avoid the fiscal cliff. according to the republicans in that meeting, the offer includes $1.6 trillion in new revenue. that is higher taxes, raising tax rates, and taxes on investment income. at least $50 million in new stimul spending in the next fiscal year alone. mind you, of course, the repubcans looking for spending ts as an offset to their agreement to raise taxes. the only spending cuts in the plan com
FOX Business
Nov 29, 2012 7:00pm EST
resolve differences that would avoid the fiscal cliff. that is $1.2 trillion in automatic budget cuts and $600 billion in tax hikes that would result from the expiration on december 31, the consequences would simply be devastating. the economic impact on the country and the american people would mean the loss of hundreds of thousands, if not millions of jobs. the very likely onset of yet another recession. the white house timothy geithner on capitol hill today. he went there empty-handed to meet the party leaders. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media campaign. this is how speaker boehner reacted earlier today to the demands of the white house that were laid out by timothy geithner in a closed-door meeting. the treasury secretary reiterating the president's call for $1.6 trillion in new tax revenue and timothy geithner currently offering nothing in return. in lieu of federal spending. >> first, despite the claims that the president supports a balanced approach, democrats
FOX Business
Dec 1, 2012 8:00pm EST
serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does nothing, every family in america will see theiincome taxes automatically go up on january 1st. that is sort of like a lump of coal you get for christmas. >> congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear that he was supporting ta cuts for the middle-class, that he wanted the expiration of the tax cuts for the high end. >> very little progress among the inside player so far, the president plans to keep pressuring republicans from the outside. meeting with the nation's governors on tuesday and then addressing the business roundtable on wednesday. lou: thank you. ed henry, fox news chief white house correspondent. joining me now, a pulitzer prize-winning journalist, campaign strategists, former reagan political director of, veteraran democratic campai
FOX Business
Dec 4, 2012 7:00pm EST
consequence of this, the economic consequence of this and by this i mean going over the fiscal cliff will be significant , but what i don't %-effort, either self delusion r misrepresentation of the facts. you all, as republicans control the house of representatives. as we saw during the debt ceiling discussions in 2011, it is not a pretty perch from which to take on the bully pulpit of the presidency. >> but i think what we need to do is not get caught ii the trap of the compromise is raising taxes. i think there are many other compromises you could have. for example, i think one compromises we could save some money and military spending even though i think that is the most important -- lou: 55 billion? >> absolutely. i think we could..3 a think we could also say that,3 you know what, the ridge could pay more for their medicare. the rich could receive less for their social security. those are compromises i presented directly to the president a year-and-a-half ago, and he has done zero. his party has done zero. they are hell bent on let's go soak there race. lou: with all respect, have you
FOX Business
Dec 5, 2012 10:00pm EST
: treasury secretary today said the obama administration is now willing to go over the fiscal cliff. moody's chief economist, deutsche bank senior u.s. economist telling us just how much that will hurt the economy and the markets,nd, of course, investors and everyon in this country in today's money lineup, news on the economy brought life to wall street today inspiring some investors, the news an unexpectedncrease in factory orders up for a second straight month, and the biggest gains in productivity in the third quarter in two years. business activity, along with new orders, showing their biggest gains last month since the first quarter. stocks finished off their highs. the do up 83 appointmes at the close. the s&p gaining 2.25, and the nasdaq under the weight and prsure of the biggest stock, apple, dropping 23 points. volume today rising to alst 4%.2 billion shares. app 8 stock, as i said, today, laggerred and immense weight on e ma. that stock fell 6.5%, $37, and concerned about the lack of new products on the horizon, concern increased competition in the market might force apple to cut m
FOX Business
Dec 4, 2012 10:00pm EST
consequence of this and by this i mean going over the fiscal cliff will be significant , butwhat i don't %-effort, ither self delusion or misrepresentation of the facts. you all, as republicas control the house of representives. as we saw dri the ebt ceing discussions in 2011, it isot a pretty perch frm which toake on the blly pulitof the presidency. >> but i think what we need to do s not get caughti the trap of the compmise s raising tas. i hink there are many other compromises you could hae. r example, i think one compmises we cldave some money and military speding even though i thinkhat is the most impot -- lou: 55 billion? >> absolutely. i think we could..3 a think wecou alssay that,,3 you know what, the ridge could pay more for their medicare. the rich could receive less for thr social secuity. those are compromises i presented directly to the president a year-and-a-half ago, and he has done zero. his party hasdone zer. they are hell bent on let's go soak thererace. lou: with all respect, have you had thidiscussion with you party? what are they saying? those are atioional and
FOX Business
Dec 6, 2012 10:00pm EST
president's ultimatum driving us to the fiscal cliff? chris and senior writer for the weekly standard, steven hayes the guests here tonight. we begin with the dictator trying to maintain command of the country using chemical weapons as a deterrent. fox news chief washington correspondent james rosen has the latest for us in this report. >> a regime helicopter captured in the skies in syria in a video unloads something, most likely, a defensive flair to detour antirebel runners, but that epitomizes the fear of which the serian people now live. rebel forces taking the flight to the assad regime inside the capital with a deadly explosion in the arab red crescent building outside the city. >> it's very clear the regime forces are being grounded down and that they are losing. >> in seeking to squash the uprising, he killed 40,000 people. president obama's top aids feel the fightg takes on a more gruesome character. >> we remain very concerned, very concern that as the opposition advances, i particular on damascus, that the regime might very well consider the use of chemical weapons. >> sen
FOX Business
Dec 6, 2012 7:00pm EST
of dollars, but sharpton is in favor of raising taxes on the so-called wealthy maybe because he knows he will not pay the tax rates. fairness is among the other americans, not him. that's my two cents more. thars all for to be the. thank you for joining us, dvr the show if you can't catch us live. have a great night. we'll see you right back here tomorrow. ♪ lou: the obama administration tonight ramping up diplomatic efforts to end seer -- syria's bloody civil war and the fear assad could use chemical weapons against his own people. the military is prepared to use poisen gas bombs, secretary of hillary clinton flew to dublin to hold a meeting with her russian counter part and u.n. enjoy to syria meeting to discuss how they would end the now 21-month long conflict in syria and how to move assad from power. and there's no sign they had to reverse the support, and today, a senior lawmaker says the syria government is now incapable of functioning properly. just before the meeting with the russian foreign minister, secretary clinton insisted that the united states and russia share common goals in the region. >> trying hard to work hard with russia to stop the bloodshed in syria and begin a political transition to a post asad future. the pressure against the regime in and around damascus seems to be increasing. lou: at home, leon pa net fa issuing the -- panetta issuing the sharpest warning yet. >> the president of the united states made it clear there will be consequences. there will be consequences if the assad regime makes a terrible mistake by using chemical weapons on their own people. lou: neither the white house or pentagon elaborating on what the cons -- consequences would be, but having russia back them would be a determined outcome made by the promise of president obama in dealing with russia after winning a second term as he remarked to the russian president thinking they were off microphone as they met in south korea back in march. >> after my election, i have more flexibility. >> i understand. i just need permission -- lou: a full report on the disturbing turn of events in syria and the likely price of russian cooperation on syria. another middle east dictator, egyptian leader, morsi, with a concession to the opponents inviting them to hold talks on the crisis. is that enough to appease protesters who plan larger demonstrations tomorrow? we'll be talking with fox news middle east expert while ferris in washington institute fellow eric trager, and president obama back on the campaign trail continuing to successfully dress up his ultimatum on higher taxes as a republican decision rather than his own declaration. his staff organized a sit-down with a middle class family today in virginia claiming congress is to blame p they fail to yield to his ultimatum. why is the mainstream liberal media ignoring the reality it's the president's ultimatum driving us to the fiscal cliff? chris and senior writer for the weekly standard, steven hayes the guests here tonight. we begin with the dictator trying to maintain command of the country using chemical weapons as a deterrent. fox news chief washington correspondent james rosen has the latest for us in this report. >> a regime helicopter captured in the skies in syria in a video unloads something, most likely, a defensive flair to detour antirebel runners, but that epitomizes the fear of which the serian people now live. rebel forces taking the flight to the assad regime inside the capital with a deadly explosion in the arab red crescent building outside the city. >> it's very clear the regime forces are being grounded down and that they are losing. >> in seeking to squash the uprising, he killed 40,000 people. president obama's top aids feel the fighting takes on a more gruesome character. >> we remain very concerned, very concern that as the opposition advances, in particular on damascus, that the regime might very well consider the use of chemical weapons. >> senior u.s. officials confirmed to fox news that syria have fully mixed an unknown quantitity of the deadly nerve agent loading it on to breakable canisters, an aerosol form to be dropped from above. in dublin, secretary of state clinton met with the russian foreign minister whose regime steadfastly defended syrias, but that changed as the russian leader, close to putin said, quote, we have shared and do share the opinion that the existing government in syria has to carry out its function, but time shown this task is beyond its strength. >> it's now up to the russians to do everything possible and maximize their influence to ensure he does not use these weapons. >> it's also good to hear that some of the arab countries are trying to find a way to get them out. >> whether assad accepts the settlement that includes asylum in another country is far from clear. the deputy foreign minister said he's 100% sure that assad will never, ever leave syria. lou: thank you very much. chief washington correspondent, and joining us now, fox news middle east and terror analyst, fellow at the washington institute for near east policy. gentlemen, thank you for being here. beginning with you, just received word that the president smoke with morsi today talking about the number of deaths and concern about the result of the demonstrations. this is now a region that seems to be of behaving in ways in which this administration could not have anticipated or did not a year ago, six months ago. your thoughts on what's happening now? >> well, ii's happening right now is a balance of force, of demonstrations between the morsi regime, which is still trying to assert itself, the gun to influence the army, but did not complete the job, so the army is not completely under the hands of morsi, but, on the other hand, a dynamic opposition uniting against morsi and has been early on the responsible for the uprising in egypt against mubarak, replaced with the brotherhood, and bottom line, lou, is now the obama administration realizes that a partnership with the muslim brotherhood and morsi will not do. there has to be a triangle agreement. it's part of the politics. morsi cannot, even with the referendum on the 15th, five lines, strong opposition. lou: eric, do you concur? >> i don't, actually. i wish i shared his optimism, but it seems to me the administration is still really engaging morsi, not reading him the riot act. you had top morsi advisers in washington yesterday meeting with the nfc. no hard message sent at all. it's true that, you know, the protesters against morsi are uniting around it, but beyond that, very little brings them together. it's hard to see this protest creating a nonislammist movement more likely have to be forcing it through creating chaos. >> doesn't it seem now clear that this administration is supporting at least covertly, subtly, the islamist movement in the region, in fact rather than, as it seems, many want to believe, and trying to work against the radical islams, and those. >> this question is only asked in washington. everywhere else, go to paris, london, europe, the arab world, you read their press, and everybody knows, or everybody criticizes or accuses the obama administration as being a partner as pushing or helping the morsi government, and before that, the muslim brotherhood. it's a well-known reality. only in the hallways of the washington, political establishment, the question should be why? why did the obama administration from day one from tahrir square, rather than teaming with the youth, women, middle class, labor, and he sided with the muslim brotherhood, and that question basically, if we answer that question, we would know what would be the future of the policy in egypt. lou: eric, you cautioned against trusting morsi from the outset, and now, it appears, we are trying to persuade russia to end their support for assad. how effective do you think that ever will be? >> i think it will be very uneffective, and i'm afraid we waited way look on syria. 30,000 people have been killed. now reports of gas loaded on to bombs to be dropped # on them, and i think we really have to be very concerned that pursuing this diplomatic process gives the assad regime more time to do tremendous damage and destruction to his own people. lou: thank you, both, eric, doctor, thank you, gentlemen. >> thank you. lou: more on the crisis in syria and egypt as we take it up with the a-team. the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? 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a billion shares lighter than yesterday, but above the average of 3.1 billion trading on the board today. apple rebounded from yesterday's worst date performance in four years, a gain of $8.45 today with the ceo saying apple will move imac computer production to the country in the new year. garmin stock higher to replace rr donly in the s&p 500, the stock moving up 5.75%. crude oil declining, down a third day in a row, looking at large supplies of gasoline and anemic demand. crude oil down 1.62 settling at 84.26. the yield continues to fall slipping to 1.58% today. confirmation tonight that the staffs of president obama and house speaker boehner resumed discussions as the two principles remain far from face-to-face negotiation apparently. fox news chief white house correspondent ed henry has the latest. >> pulling on the heart strings like he's on the campaign trail, president obama visited a middle class family in virginia. >> a couple thousands dollars means a couple months rent for this family. >> again, trying to frame the battle over the miscall cliff as being all about taxes with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%, but e remain optimistic we can get something done that are good for families like this one, and that's good for the american economy. >> republicans believe the reason the president is going light on spending cuts while demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes across the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meaning we headed for another show down with congress over raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i think we're just at the beginning of a long protractive battle, lou. lou: more on the stalemate of the fiscal cliff, the impasse, and tell us what you think about the so-called negotiations. vote in tonight's online poll. do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. 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[ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou: house minority leader, pelosi going along with timothy geithner in saying it's just a fact we're going over the cliff if republicans do not agree to meet the president's ultimatum and raise taxes on the top 2%. >> the way i heard it, and the way i think it was not as a threat we'll go over if they don't, it's a prediction. if there's no agreement, then the cliff has to be dealt with. i don't see it if they don't do this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we have an agreement3 lou: ha-ha, fox news digital politics editor joining us as does steven hayes, weekly writer and fox news critterment steven, it looks like a condition preceding, and looks like it and sounds like it. how can it be the entire national media establishment seems to be blaming the republicans because the president issued an ultimatum? >> incredible, the president had red lines, saying he will not entertain the debt ceiling debate in the broader fiscal cliff discussion, clear where he was on taxes on the wealthy, a president who came out, and from the beginning, suggesting he's not moving off of his basic requirements, and republicans came a coup of different times making, at least, gestures towards a compromise. i think that suggests where the leverage really lies in this debate and negotiations. >> chris, seemssthe president's doing everything but taking snuff as he makes degrees and pronouncements, and the republicans for the life of me don't have a response, a message to meet and deal with the president. >> well, this is the starving time for the republicans. this is the bad season -- unhappy christmas for the republicans with the goal to get to the fiscal cliff, and get beyond that so that they can get to the debt ceiling. the debt ceiling is where they have leverage, advantage, and where the president is asking to increase the debt ceiling beyond the 2 #.2 trillion, these are american dollars, the $2.2 trillion that he was granted in borrowing power back in august. the republicans have to get to the point where that's the fulcrum for the debate. the president wants it out now and do it. he would like an unconditional increase and permanent, basically, increase in the debt ceiling now, in addition to the tax rate increase. the republicans have to survive this time as it relates to tax increases and get on to the ground of the debt ceiling. lou: way are the odds of survival if you have a senate minority leaders fill busting his own proposal on the floor of the senate, which some consider ill-considered. >> yeah, well, i mean, it it was a moment, wass't it? i mean, i don't think -- the republicans, clearly, are having a bad moment here. chris is right. you'll look back on this in six months, 12 months, or two years saying it's the low point, what republicans are hoping. it's not the case democrats are are organized and all sitting together on the same page too. some dissent object question is did the overall amount of raising taxes, that scares some democrats in the senate. you had democrats in the house repeatedly declare the opposition to any tinkering with entitlements, medicare, medicaid, social security, the real problem here, they say flat out, we're not going to do that. you have some differences with the democrats as well. >> no question. there's division of plenty on capital hill, b u this president is giving a clear impression that he doesn't care what anyone else thinks, democrat, republican, the senate, the house, his team, he'll plunge ahead over the cliff. am i missing something, chris? >> no, that's what he would like most of all. the thing that barack obama would like most of all, and i don't mean this to say that he doesn't love america or whatever else, but what i mean, is that the president is advantaged hugely on the other side of the fiscal cliff. if he can get republicans to join hands, jump, and be on the other side, all the tax rates go up issue and he's negotiating from an advantaged position. if he kept debt that, what he would hope is he can force republicans into app auto fade op the question of tax rates and have the party consume itself ahead of midterms with primary challenges before the 2014 so he's, right now, on the tax question looking at when, when. the only hope, the only ground the republicans can hope to stand on is the debt limit increase happening in february. lou: i hear chris saying just because you reek devastation as president of the united states on your economy, doesn't mean you don't love your country. [laughter] >> well said, very well said. >> that's exactly what he was intending to say. [laughter] >> look, i mean, it's an interesting position right now for the president. if you look at the president's argument, i mean, it is effect of what he's saying. we talked about this before, but, remember, the president argued twice raising taxes in time of economic struggle is bad for the economy. he was clear about this. he laid out the argument, and in some detail. you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. great to have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle in seattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next. want to try to crack it? yeah, that's the way to do it! now we need a little bimore... [ male announcer ] at humana, we understand the value of quality time and personal attentio which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! 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[ male announcer ] humana. ♪ lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the senator criticized boehner's proposal saying, quote, would destroy american jobs and not reduce the debt a penny. joining me to talk about the senator's resignation, his outlook on the cliff, and a host of other issues, delighted to be joined by south carolina lawmaker congressman trey, and congressman, great to have you with us. let me begin with the fiscal cliff. as i discussed with steven and our editor, chris, i have not heard a single republican say of the president's ultimatum, you know, that's the cause of the cliff, not the fact that we department yield to that ultimatum. why in the world aren't republicans talking about the president's ultimatum is -- as thee causal agent of any plunge over the fiscal cliff? >> well, lou, this are a few. jim jordan, demint, we don't have a megaphone or bblly pulpit. there's a band of conservatives in the house opposing the so-called debt deal last summer, but the president can command media wherever he goes, and whatever he does becomes news, and we're 435 little voices, and, frankly, the republican conference is not always singing off the same sheet of music. it is stunning to me we're going to go over a fiscal cliff or slope because of eight and a half days of revenue. that's what the president's asking for, eight and a half days worth of borrowing. the other thing to look at, lou, i think, is, you know, the president wants more revenue. he gets that by going over the cliff. he wants less defense spending. he gets that by going off the cliff, and he wants the republican brand damaged which he gets by going over the cliff. what incentive does he have to sit down and negotiate? none. lou: why is the republican party throwing over reagan omics, free enterprise, growth, individual freedom, smaller government, you know, and lower taxes over this? are you kidding me? the republican leadership is also incentivized just as well as the president as you know, congressman, and they will get twice -- get spending cuts, sequestering goes into effect. you're going to see, obviously, domestic and defense budgets cut, but you'll see a tax increase here, but the fact is you get nothing if you don't do the fiscal cliff. >> well, among my many limitation is the inability to read other people's minds. i don't know what spaker boehner's thinking, but i know what he tells us in conference and private. lou: you can speak freely here. >> well, spiker boehner believes and convinced me he's negotiating with himself. he's in the spot between, and let's be clear, john boehner's never voted for a tax increase in his entire career in the house so he's got his principles, and, on the other hand, we saw in november, bewere not successful coming to electioneering. we're going to be blamed. he wants to create the appearance of a willingness to sit down in talk in a broad way in entitlement reform, bending the spinning art, but the president won't engage it. it's give me my increase on the dreaded rich people, and and unlimited credit card with respect to the debt ceiling. can you imagine anything more absurd than us giving eman unlimited ability to raise the debt ceiling? he's got the unmitigated ability to ask for that. lou: congressman, i have the most profound respect. you got me to tears thinking about the 435 folks there on capital hill in the house who have little tiny megaphones and can't get their message out, but then i start desperately looking for the message, and i can't even find it as i seek it. the poor speaker of the house, inability to rise to the level of the bully pulpit, but the fact is i don't see the creativity, the energy, the passion for the philosophy of the republican party that engenders a powerful leadership response to a direct challenge to the fundamental values and tenants of the republican party, and i ask you, if you don't respond now, when would the republican party respond? >> i'll let you in on a secret, lou, because i like you. between us, and us only -- lou: is this where you start to tell me to go to hell? >> no, sir, i would never, never tell you that. we had a plan that many conservatives in the house worked on, and we were going to unvail it last week. we were going to unvail it only the exact same day that speaker boehner unvailed his response so we canned it, but there is a group of conservatives led by jim jordan, extraordinary person from ohio, and others. we do have a plan, and it's earlly like cup, cat, and balance, which i hasten to add would have averted the so-called super committee, and what we are talking about today, and it had bipartisan support. if we get the house leadership to reinvest and cut cap and balance, our plan last summer, but something about washington that if it's not a new idea, it's not a good requested. i'm sure there's a reluctance to go back to the old plan, but we did have something we were going to roll out this week, and i hope expwrim rolls it -- jim rolls it out next week. lou: looking forward to, thank you for letting us in on that. >> yes, sir, between us. lou: appreciate that. that's always our obligation here that we maintain. >> yes, sir. lou: jim demint shocking everybody. you interested in what might result? >> governor haley picking the person she can pick, and i'm happy to give her four good names, tim scott, nick, jeff duncan, and joe wilson would be extraordinary. she has access to much better political minds and more wisdom than i can afford her, but high on the guys i served with in the house. tough to replace gym demint no matter who she makes, but tim scott would be extraordinary, our state would be well served with any one of them. lou: congressman, that's why i'm sure you're on that list. congressman, thank you for being with us. economic thinker tomorrow author of the book on supply side economics, "wealth and poverty," the former cbo directer, douglas holtz-eakin, and up next tonight is the governor of michigan, is he going to be the next scott walker? details on his pro-worker push in michigan straight ahead. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gavisco®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. is what drives us to broadcast the world'biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearlyndestructible laptop and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most beer. just another way we're engineering a better world for you. lou: michigan legislature approve right to work legislation as hundreds showed up in michigan's capital protesting the measure. at least eight protesters arrested when a crowd of several hundred tries to push their way into the locked capitol building. police said it was already filled to capacity. republican governor rick snyder says he plans to sign the legislation calling it pro-worker. unions sharing a loss of union dues and other power attack governor snyder claiming he's putting the future of the state in the hands of big business. well, president obama adding to the ever-expanding list of titles, the latest coming from the chairman of the white house triball nation's conference. listen. >> the president loves basketball. he has an indian name. he knows what it's like to be poor, and he has not forgotten where he came from, and his theme song is "hail to the chief." [laughter] i think he definitely qualifies as the first american indian president. lou: and so he is declared. you may remember the president has been called the first gay, female, jewish, and asian president; however, without question, the title of america's first black president belongs to bight. -- bill clinton. up next, the obama ultimatum. tax the rich, or he'll take the country over the cliff. vote on the facebook page, do you agree president obama's ultimatum on higher taxes are responsible for driving us over the cliff if that were to occur? we're talking with monica and angela, and lori. that's right, the a-team is next, and you don't want to miss them. lou: joining me now the a team, author of "what the bleep just happened" i love that title, radio talk show host monica crowley, and fox news political analyst, angela, and fox business network lori rothman. let's start with, if we may. this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great with policy, but we've been clumsy courtroom communicators. >> boehner will let this backfire, we are higher taxing, no growth, no jobs, fake interest rates, in two years the republican party comes back stronger. >> we're seeing is political fear at its best, by being a washington dc insider i believe we can still get a deal, we have two proposal on the table. >> to get to your point, lou, from a conservative perspective, over in 6 was a national suicide. -- november 6 was a national suicide. a very thin find red line, that red line of republican party. if this party also commits suicide, this will be catastrophic. neil: we'll explore further why it is that republicans are having trouble with two areas, one winning elects and the other governing, we'll be back with the a-team, and we'll find out who is in charge on this assault on christmas among other questions, stay with us. lou: we're back with the a team. i talked with congressman goudie about the issue of taxes, all right senator tom coburn, and tom coal exceeded two tax hikes. >> it makes terrible sense, we're in a situation where the economy is not growing there are no jobs. we're facing an inflationary environment too. it is troubling, and it is just about politics, and ideology and pushing that forward no matter what without thinking -- >> what they are saying is that obama will have to give more, than entitlement cuts and spending cuts and republicans might have to acquiesce to tax hikes. lou: what is the republican party coming, monica used expression political party suicide, i don't know if that drastic but there is a defeatism i find astonishing. >> they hope to stan strong together in one message, we need a warrior that is why i'm delighted that jim demint is leaving and going to the heritage foundation, we don't have a clear champion on our issue, senator rubio does a great job but we need more out there jan the kuh cuban guy from florida. lou: i tell you, right now, i may be insulting a lot of people, but he is the most ex fisk communicate or -- effective communicate or the republican party has but he is not talking about the fiscal cliff. >> he said we have to did is not create new taxes but new tax payers, not make the richer poorer but the poorer richer. lou: that is a great slogan. >> you have to create policy, we're 25 days away from the fiscal cliff. >> to your original question about lack of energy and coing he had on the republican side, -- cohesion on the republican side. there is a real dispier i dispin this. not just among leadership but voting public people are burnt out. lou: what have they done? you have to work hard to get burned out. >> they have not done that. >> and tea party on the rise again. i think that stronger better republican party in two years from, last cycle. watch this whole fiscal cliff dial backfire. the -- the economy is going into recession in new year. lou: do you believe there is no way to avoid the fiscal cliff.
FOX Business
Nov 28, 2012 7:00pm EST
less conversation and more on the fiscal cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll see you here tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax
FOX Business
Dec 5, 2012 7:00pm EST
nationwide. somebody's buying this stuff. it's not me. i'm not spending that money on coffee, people. i hope you're not either. coming up tomorrow, what was once a dark spot in the economy is becoming the shining star in the recovery. why the quick turn around? that's all for on the. thanks for joining us. have a great night. see you right back here tomorrow. ♪ lew: good evening, everybody. u.s. foreign policy in the middle east in question at this hour. violence spiring out of control in syria after 20 months of civil unrest and the deaths of at least 40,000 murdered civilians at the hands of their own government. united states and nato agreeing to deploy patriot weapons and to thwart an aso-called by assad. the missile systems to be positioned near the syria. his staff denies that and estimates if they were deploy troops, it requires 75,000 of the troops in a full ground invasion in order to seize the chemical weapon stockpile. fox news confirming they were not ordered to draft the consideration of such a mission. secretary of state clinton is nonetheless talking very tough calling for assad to step down as the obama administration has done for the past 15 months, but refusing, still, to detail which consequences those would be. >> we will explore with like-minded countries what more we can do to bring the conflict to an end, but that will require the assad regime making the decision to participate in a political transition, ending the violence against its own people, and we hope that they do so because we believe, as you know, that their fall is inevitable, but it's a question of how many people will die until that day occurs. lou: the violence, and morsi protesters in the street, and large scale clashes, worst of the violence since morsi proposed his powers. a third of the aides resigned now, and more than 225 injured in the clashes since they broke out. turning to the president and his views, steering clear of my public statements on egypt or morsi or the administrations, but jay carney responded to a question on the administration's actions on the turmoil, a scripted response that he clearly wrote word for word. a two-way dialogue with an exchange of the egyptian people themselves, about their constitutional process, and the substance of the constitution. the egyptian people want and deserve a process that's open, transparent, fair, and does not unfavor one group over any other. democracy depends on strong institutions and important checks and balances that provide accountability. we note that demonstrations supporting both sides of the issues have been large and generally peaceful. lou: a careful and scripted response. the director of national intelligence today showed congress the video proving the obama add -- administration misled the american public on benghazi. there was a classified video of the attack presented to the house arms services committee. that video showed an attack by heavily armed terrorists who breached the compound in benghazi within just minutes. we have the full report here tonight straight ahead. among the guests, former u.s. ambassador to the united nation, john bolten, judith mill eric and ed qlien. we begin with the closed door briefs on benghazi that lawmakers say raises more questions than ever that the obama administration insisted the attack was the response of a demonstration prompted by rage over an anti-islam video. fox news correspondent with the latest on what lawmakers saw and heard today from the country's top intelligence officials. >> the closed classified briefing brought together seen your state department, intelligence, and counterterrorism officials for a report on the three-month old investigation into the benghazi terrorist attacks. >> to the degree there was planning involved, something done over days, weeks, or over hours? no indication of long term planning here. >> the attacks cronology was laid oillet in a multimedia presentation with drone surveillance and video from the consulate of the cia and annex. >> this is supposed to be sovereign u.s. territory, and if people walk in on us like that without resistance really makes your blood boil because you think to yourself what's the security? >> a video was shown to the committee last month, but this is the first time the presentation was made to the entire house. one lawmaker who asked not to be identified who said in the classified naturr of the breech r, the video who assess because the attacker is casual. fox news told james clapper, the nation's top intelligence official emphasized, the attacker's motivation unknown, and there was further questions about the obama administration's singular and immediate focus on the anti-islam video? >> why did you just focus on that part for so long rather than say, look, it's not a black and white issue. >> one of the motivations may very well be either the video, the response to the video in cairo, and, certainly, that's not ruled out. >> fox news has confirmed the decision to shut down the cia annex was made in the early morning hours of september 12th after it took indirect fire, and while the annex was cleared of classified material and equipment in less than ten hours, the consulate less than a mile away has never been secured, lou. lou: we hear very little about who made the decision not to respond with military, para-military forces to support, and perhaps save, four americans who were killed in the attacks. >> well, here privately on capital hill from lawmakers, they wondered if the president meant there were not the assets available in the mediterranean to respond quickly. what we're seeing in the next few weeks, soon with open hearings the public can watch on capital hill, is a refocusing on this -- this -- this military response, pardon me, and then also the security failure before the attack and culpability of the state department because there was multiple warning and calls for help that were denied, and the security was further drawn down in benghazi, lou. lou: extraordinary. thank you very much. >> you're welcome. lou: joining me now, former u.s. ambassador not united nations, john bolten, judith miller, both fox news contributors. let me begin, if i may, with what's happening with this -- what's happening with morsi and this arab spring that was supposed to be blossoming and no response, no statement from the white house of any kind directly, significantly meaningful on what's happening. i mean it's frustrating to say the least. >> not surprising, lou, begin the president morsilini as he's now called in egypt, understands that for the americans all that matters is egypt's continued adherence to the peace treaty with israel, and as long as they don't throw that into the water, into the nile and flush it down the dam, everything's going to be forgiven. it was only a day, a day after the cease fire announcement that president morsi took these extraordinary actions and made the power grab that's not alienated so many in his own government and in the country. lou: john, your thoughts? in support of what judy said, carney, reading, as you saw there -- >> talking points, cia provided talking points. lou: saying the president worked effectively with president morsi on key issues including the gaza negotiations. that suffices to require that the president be quiet on this? >> well, it clearly crossee morsi's mind he could do what he wanted after the cease fire which is why he took that opportunity, and he's proceeding in a very methodical fashion over opposition in the streets to hold this referendum on his sharia friendly constitution on the 15th. lou: the muslim brotherhood who said would not participate in the political process, and morsi said he would not run for president, now firmly in power, and the administration is unsurprised and unwilling to respond, react, or in some kind initiative. >> well, here's the next point. it is the case that the military in egypt remains friendly to the united states. lou: i'm putting a lot less of a preview on that after what we witnessed over the last couple years. >> hang on. what's happening on is morsi puts generals, sympathetic to the brotherhood in leadership position. they are facilitating the takeover that will threaten the camp david accord which is why the administration's silence is inexcusable. lou: not silent on syria. we heard these rumblings out of the administration and the foreign policy apparatus of this government for 15 months saying assad must go. doing absolutely nothing. 40,000 people murdered, and then, unbelievably, the secretary of state today saying that this, you know, the point of which we reach some sort of resolution depends on how many people the assad regimements to kill. are you kidding me? >> they don't know what to do. on this, lou, i have to defend -he administration. it's hard to know what to do in a situation which is now as chaotic as syria. i mean, look -- lou: should we only assign foreign policy masters in the state department and white house then easy, simple tasks they are resolve? >> no, i just think there's some foreign policy challenges more complex than others, and this is a hard one. we armed the libyans and know some of those weapons went to the very people blowing up american embassies and targets. lou: radicals, extremists, terrorists. the administration will not use that term. >> they misread it thinking the russians would help ease assad out of power. there's a broader problem. syria, egypt, libya, yemen, iran's nuclear program, that in a short period of time, you could see this whole thing begin to spin out of control. it would only take a precipitated incident, i'm not saying like an incident, but it's dangerous for us and our friends in the region. lou: thank you very much. we went through the entire discussion without mentioning iran and israel. thank you very much, judy. appreciate it. much more on unrest in egypt, syria, and the president's response throughout the broadcast here tonight. who does he think he's kidding? the president waging class war fare. >> i can't ask folks who are, you know, middle class, seniors who are on medicare, young people who are trying to get student loans to go to college. i can't ask them to sacrifice and not ask anything of higher income folks. lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... 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[ male announcer ] humana. ♪ lou: treasury secretary today said the obama administration is now willing to go over the fiscal cliff. moody's chief economist, deutsche bank senior u.s. economist telling us just how much that will hurt the economy and the markets, and, of course, investors and everyone in this country in today's money lineup, news on the economy brought life to wall street today inspiring some investors, the news an unexpected increase in factory orders up for a second straight month, and the biggest gains in productivity in the third quarter in two years. business activity, along with new orders, showing their biggest gains last month since the first quarter. stocks finished off their highs. the dow up 83 appointments at the close. the s&p gaining 2.25, and the nasdaq under the weight and pressure of the biggest stock, apple, dropping 23 points. volume today rising to almost 4%.2 billion shares. app 8 stock, as i said, today, laggerred and immense weight on the mark. that stock fell 6.5%, $37, and concerned about the lack of new products on the horizon, concern increased competition in the market might force apple to cut margins to remain competitive that added up to apple's worst decline in four years. the selling is continuing. after hours trading, the -- today's selling, however, the stock remains up 35 #% so far this year. now, that puts a 6% decline in some perspective, doesn't it? what you're looking at is people, perhaps, moving to get ahead of the obama administration's new and highly unattractive tax plan for investors. big winners on the day, financials, citi group stock up after announcing they are laying off 4% of the work force, cutting cost, bank of america and travelers example of the financialses moving higher. marathon, chevron, conoco all higher. crude oil down for a second straight day closing under 88 a barrel, and ten year treasury down to 1.59%. no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we turn to fox news chief white house correspondent ed henry for the report. >> trying to lay blame for stalled budget talks on republicans, president obama today wratcheted up pressure on boehner. >> nobody wants this done more than me. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to another hike in the nation's debt ceiling. >> we're not going to play that game next year. if congress, in any way suggests they tie negotiations to debt ceiling votes, and take us to the brink of default again as part of a budget negotiioion, i will not play that game. >> republicans held their meeting with small business owners and denied they are trying to punt until next year. >> i'll be here. i'll be available at any moment to sit down with the president to get serious about solving the problem. >> they noted the president has not scheduled any meetings with g.o.p. leaders in weeks and not offered a counterproposal to boehner's plan from last week. >> frankly, it was the balanced approach the president's been asking for. we need a response from the white house. >> reporter: the president continues to envies the only impediment to the deal is boehner's $800 million in tax revenue is not enough. >> the hold upright now is that speaker boehner took a position, i think the day after the campaign, that said we're willing to bring in revenue, but we're not willing to increase rates. >> two summers ago, the president, himself, claimed he could raise more revenue without raising rates. >> give us $11.2 -- $1.2 trillion in revenues, without hiking tax rates, but could be accomplished by eliminating loopholes, some deductions, and engaging in a tax reform process that could have lowered rates generally broadening the base. >> now, officials confirm that the president and the speaker spoke by phone this afternoon, first time they had any contact in days. no major progress to report, but one aide i spoke to, briefed on the call said, look, this is more than we've seen in a long time, but that's not a lot of progress to really hang on and get any sense that they are really moving forward here, lou. lou: thank you very much. ed henry, chief white house correspondent. up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $600 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolutely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodity prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know -- >> they are in a mood, and that worries me. somebody has to be wrong, and big time. >> yawning until they don't. that's the concern. lou: i know this would be stunning and alarming to economists who would never contemplate themselves being wrong on this, but is this some possibility that everyone is wrong about this? that these are actually men and women of good will in both parties who are beginning to come together in one great warm embrace sometime before christmas day and give the nation such a great boost of spirit of good will and reach agreement here? >> i don't know if we're going to see that sense of brotherhood or sisterhood any time soon in washington. i'm still convinced they are not going to come to an agreement on the fiscal cliff unless compelled to do so by an adverse external event like a sharply lower equity market. lou: and is, you know, i can't imagine a market ever going down as john is suggesting here simply because a government chooses not to function. >> well, if it means we're headed into recession, the markets will react. in a typical bear market, stocks sell off by 20%. it's great to have a compromise before the year end, but time is running out. it's not possible. lou: how is it that a treasury secretary responsible for the integrity of the markets, the currency, responsible, indeed, for the financial system of this country, largely, broadly, and internationally, would sink to the level of a political operative making statements about we're going over the fiscal cliff and we're ready to go. >> the president put him in charge of the negotiations from his point of view. lou: clever. >> he's wearing two hats at this point in time. consider here, yes, there's a big complicated negotiation that needs to take place, but there's very low hangs fruit. there's easy low hanging fruit. lou: nothing complicated about this, may i say that, carl? >> nobody can agree. lou: $16 trillion in debt, for which we're responsible. there is a $1 trillion -- $1.04 trillion deficit this year, fifth year in a row we have this kind of number. we're going to, as folks used to say when i was a young fellow, this country's going to hell in a hand basket if we don't get our act together. >> and right now, we still have time. dollar's not falling. we don't have treasury bond yields soaring through the roof lou: the euro is rising against the dollar. isn't that embarrassing? >> that's not a concern to the administration or congress. lou: we should say to hell with the sound dollar. let's em brails strong competitiveness. last i looked at the trade deficit, we were, again, lagging and uke sucking popped water. there's a rising deficit stripping our gdp. >> and right now europe is in a relatively deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. how long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might say a "d" looks good. thank you for being here. more ahead taking that and politics of it all with the a-team next. speaker boehnerments to -- boehner wants to talk face to face with the president, and the president wants to talk to no one. teaching students everything a student should never become, the union uses a cartoon to talk taxes. you decide, is this teacher's union all wet? after months of campaigning for the president, bill clinton and the president should be best of friends; right? 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[ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? h! i have me on my fantasy team. lieu lie -- lou: well, you got to love former president bill clinton, interesting words on the fiscal cliff. in an event in sacramento, the president declared the whole standoff between president obama and the republicans as, quote, just a kabooky dance, two dogs that meet each other over a piece of meet, sniffing each other out, and moving towards a deal. with that elegance in mind, we welcome author of "the amateur," best selling author we have to say. friction here. that's not a helpful thing to say. i mean, he's not talking higher taxes, but dog sniffing which probably does -- may not offend the participants, i don't know. there's a little problem between the white house and mr. clinton. >> before i came on your show tonight, i spoke with sources who are very close to bill and hillary clinton, and they told me that bill clinton and barack obama ave had a major falling out. lou: wow, after all the campaigning? the elegant speech, really? >> because of this estrangement, i'm told, is back to the presidential election when clinton struck a deal with obama. in the deal, clinton said he'd give the nominating speech and go out and campaign for obama, but in return, he wanted a couple things from the president. first, clinton wanted to be a allowed to name the next chairman of the democratic national committee to have effective control of the party apparatus and all the money that goes with that. lou: that's a big gift. >> well, he did a big deal for obama. lou: right. >> secondly, he wanted obama to agree that he would back hillary if she runs for president in 2016, and that was a verbal commitment he believed he had from barack obama. shortly after the election, according, again, to my sources, clinton sent obama a list of five names from which he could choose the next chairman of the democratic national convention. lou: a list from clinton to the president? >> all his guys, or in some cases, his women. lou: do you know who's on the list? >> i don't know the names on the list, but the people on the list, i'm told, were completelyignored -- completely ignored, and clinton learned that none of his people were even vetted or given serious consideration. clinton then learned, as we all did, that barack obama had reid appointed, wasserman-s crarks hulz, his woman, his lady, to the chair of the democratic national committee. what did he do? clinton phoned the president wants to complain about this and speak to the white house. speak to the president. the white house did not put his call through, and he never heard from the president for 24 hours. lou: i love the way you constructed that. the white house didn't put the call through. you didn't say the president declinedded to take the call. >> finally got a call, and an answer from, of all people, david axlerod, senior counselor to the president, and clinton refused to take the call, absolutely, according to my sources, was enraged. this is interesting, i think, according to hillary clinton, bill was red in the face and breathless, and she feels so worried about him that he might have a heart attack that she called in a doctor to the home. he refused to take the sedative. lou: where is the support for secretary clinton in 2016? what is -- what -- what options does bill clinton have? >> good question. finally, the president called clinton. they did speak, according to my source, and of all things, obama said, reading from my notes now, that he was not convinced he should support hillary clinton, that it was too early to make a decision. clinton was absolutely dome struck. he thought he had a deal. lou: not to make a commitment. >> hillary clinton told friends he put his head in his hands, and as i thought about it, the upshot is the master politician was screwed by the man he once called "the amateur." >> ed cline had to get there. thank you so much. we appreciate it. fox news digital politics editor joining us tomorrow to talk about politics, of course. fox news middle east expert, and author and radio talk show host monica crowely monk the guests. stay with us, next talking the fiscal cliff and our assertion %-president obama.iff belongs to we'll be right back. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i reay need is sleep. inoducing the ishares core, building blocks for the heart of your portfolio. findut why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 100-ishares for a prospectus wch inclus investment objectives, risks, charges and expenses. read and consider it carefully beforenvesting. risk includes possle loss of principal. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. lou: well, some conservative critics blasting a detroit city councilwoman who says president obama owes the city a federal bailout. her reasoning is rather direct. detroit overwhelmingly supported the president's re-election so she says the president should, obviously, return the favor. here is councilwoman watson saying just exactly that in a city council meeting yesterday. >> after the election of jimmy carter, alexander young, he went to washington, d.c.. he came back home with bacon. >> that's right. i remember that. >> that's what you do. that's what you do. this is a -- our people in an overwhelming way supported the re-election of the president, and there ought to be a quid pro quo. lou: detroit facing a budget deficit of more than $200 million and could be out of money by the end of the year. a california teachers union taking class warfare to two extremes. the california federation of @%achers producing and releasing an eight-minute long video on the website this week advocates higher taxes on the rich and to drive home their point, they show a wealthy 1% urinating on the 99 #%. these are teachers, mind you. >> when ordinary people wondered why rich people needed so much money, the 1% said, don't worry, this is good for you because it trickles down from us to you. someday you'll be rich, and the rules made for us will be your rules too. lou: well, that classy, imaginative, and thoughtful video mon rated by david. out with the word of the year, and for the first time ever, it's a tie. lucky for those interested in, well, free enterprise. socialism and capitalism, the must looked up words on its website this year, and according to merriam-webster's editor at large, there was a spike for socialism. that's right, on election day. up next, pro-democracy, protests turning increasingly violence in egypt. how long dii can -- how long can president morsi remain silent, and how long did president obama do nothing? we'll ask next. >> this is a test. lou: this is just in. a senior u.s. official as telling fox news that serious military has mixed chemical weapons and apparently is ready to use them. the chemical weapon has assembled a deadly nerve gas. the syriaa military has about 60 days in which to use this until it expires. it will then need to be destroyed. joining us now is the "a-team." james toronto, mary anne marsh, bradley graham. thank you all for being here. the national debt to the fiscal cliff. what are your thoughts? >> i don't think it matters all that much. i agree with bill clinton's comment from the earlier segment. >> i am agreeing with him as a matter of analysis. it doesn't appear that obama is aiming to do something big and constructive here. he is aiming for a victory on a small point of dispute. that is sort of the lowest common denominator. that is what both sides can agree upon. since obama doesn't seem to want to give anything to the republicans, that is where i think it will end up. lou: where do you think they will end up in a war that we will end up, far more importantly? >> i think that is a great question. i don't think anybody knows. to the point of the testing, i thought the interesting point was made by president obama at the business roundtable. working towards john engler his possession to extend debt ceiling providers. that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol hill. as president is not serious. >> the other thing about the debt limit is not an authorization to go into as much does he want for five years or whatever. it is a set dollar amount. how much? lou: based on past five years of the bush administration, i can assure you that it will be a staggering figure. especially since we have a president who is inclined to spend like hell. i don't think there's any doubt about that. the president today is absolutely indulging in class warfare. >> i cannot ask folks who are middle-class seniors on medicare and young people who are trying to get student loans for college -- i can't ask them to sacrifice. and not ask anything of higher income folks. lou: what are your thoughts? >> i love the word ask her if is that this is a chervil contribution as opposed to money being taken forcibly. second, what's he asking anyone to sacrifice other than the people that he calls millionaires, people making over $200,000 per year? lou: maryanne, you have a thought on that? >> make no mistake. the president and the democrats are in the drivers seat on a the steel. they have public opinion with them. beeker vader does not read the fact is if we go over the cliff, they are going to blame the republicans fight two to one. the president knows that and he doesn't want to go over the cliff, but he's willing to. spume republicans and democrats come, the house and the senate and the white house, these taxes will be at his hand and his choice. what do you think? >> public opinion agrees that the taxes, especially on the upper income earners should go up. if we go over the cliff, the republicans are going to take the full blame. speaker boehner knows that. that is why he is trying to hold a caucus together. he doesn't have public opinion. lou: your opinion of speaker boehner is commendable. >> the president has his foot on the gas. people are going to win the president because the buck stops with him or it should. lou: thank you very much. i appreciate you all being here. now it's time for your comments. rick said we are not amused with bob costas comments on the murder suicide. is everyone who doesn't agree with you a left-wing radical? no. another common is that the media has been talking about the nfl murder suicide. now we are talking about limited citizens gun rights. when we talk about the drugs that were taken by the nfl player? thank you for being with us tonight can i help you? i heard you guys can ship ground for less than thups store. that's right. i've learned the only way to get a holiday deal is to camp out. you ow we've been open all night. is this a trick to get my spot? 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